Balance sheets and income statements are the two most important financial reports business managers need to run their company efficiently. These statements allow management to measure performance and ...

Editor’s Note: This post is focused on helping you understand profit and loss statements. This financial statement is used by most small business owners to help assess business profits and losses ...

Learn how to prepare an up-to-date profit and loss statement, balance sheet and statement of cash flows. Many, or all, of the products featured on this page are from our advertising partners who ...

A profit and loss statement summarizes a business’s revenue and expenses. Learn how to use a profit and loss statement to ...

Julia is a writer in New York and started covering tech and business during the pandemic. She also covers books and the publishing industry. With over a decade of editorial experience, Rob Watts ...

Joseph Nguyen is a contributing author at Investopedia and a research analyst with experience at a securities brokerage firm. Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society ...

A balance sheet displays what a company owns, what it owes, how it's financed, and its shareholders' equity at a particular point in time. An income statement displays the company's revenues and ...

When you want to know a company’s financial health, it helps to look at its balance sheet. But if you’ve never seen a balance sheet before or don’t know how to read one, all you’ll see is a collection ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. As the name implies, a balance sheet should reveal ...